Insurers should consider climate risk more

Thursday, 12 08 2016, Category: Nature, Country: World

Insurers should pay more heed to climate risk in their investment strategies to plug an annual $100 billion "protection gap" of uninsured losses from natural catastrophes, a network of 29 global insurance players said in a report on Wednesday.

The report by the network ClimateWise, which includes the Lloyd's of London insurance market, Swiss Re and broker Aon Group, said introducing a rating system to measure financial assets' resilience to climate change could help protect insurers' investment arms from losses from weather-related catastrophes.